Hyderabad is uniquely positioned in terms of value-for-money

• Given the lingering impact of GST and demonetization, how was the performance in 2018?

In 2018, Hyderabad’s residential real estate market witnessed significantly higher demand across all segments, as compared to other major cities in India. While other markets were adversely impacted by GST and demonetization, Hyderabad has been growing quarter on quarter. Among India’s seven major cities, research shows that Hyderabad is the only city where property sales have grown.

The biggest challenge during the period after demonetisation was the postponement of purchase by buyers. Expecting a reduction in interest rates for home loans, many prospective buyers decided to defer their purchase decision until the matter became clearer. It took a concerted effort from developers to communicate with prospective buyers and keep them informed throughout the process.

Since ready-to-occupy projects with occupation certificates were not subjected to GST, developers revised their business models and shifted their focus to promoting these projects. As a result, there were fewer project launches, while buyers had an extensive choice of ready-to-occupy options.

Overall, developers with credible reputations and transparent business practices have generally been insulated from any adverse effects of policy changes and have even witnessed sales growth. Reputed developers are maintaining their position in the market, which is now ideal for serious buyers.

• Can you give us an outlook of the real estate market?

With improved regulatory policies and renewed buyer confidence, the Hyderabad real estate market is stabilising and is expected to grow in 2019. The implementation of RERA has enhanced the overall real estate climate and ease of doing business in the city. Furthermore, investment in infrastructure and connectivity has played a major role in spurring commercial real estate growth. This has attracted companies to set up their offices at the IT, Financial and Industrial hubs across Hyderabad.

As Hyderabad consolidates its growth strategy of building industry hubs and integrated townships, many areas in the city are gaining interest for their location, connectivity and investment potential. This strategy is encouraging new growth corridors to be identified, which addresses the increasing demand.

Another major trend that will drive market growth in 2019 is the focus on the affordable housing sector. Since it is the most incentivised segment due to its infrastructure status, many reputed developers are now launching projects in the affordable segment. Attracted by growing job opportunities in Hyderabad, consumer demand for affordable housing has increased exponentially.

Hyderabad is uniquely positioned in terms of value-for-money for both home buyers and investors. Furthermore, the quality of life in Hyderabad has been ranked consistently high. Policy initiatives that enhance this customer-friendly and investment-friendly environment are key to advancing the sector in 2019.

• What impact does present regulatory environment have on the developers?

In the pre-RERA era, the real estate sector was highly fragmented and unregulated. With stricter rules and guidelines, only credible and reputed developers will thrive in the market. RERA mandates that developers must disclose all information for registered projects including details of promoters, layout plan, land status, schedule of execution and status of various approvals. This will effectively weed out any unscrupulous players from the market.

While the policy reforms have helped bolster buyer sentiment, developers have also welcomed the new era of transparency in their businesses. The present regulatory environment has forced developers and approval authorities to maintain high levels of compliance. Moving forward, project approvals will be quicker, resulting in faster time to market. An efficient, fair and transparent system would result in revived demand for new projects in the market.

• Please brief us on some of the major projects that have been commissioned or in the advance stages of completion?

Aparna Sarovar Zenith

Launched in 2018, Aparna Sarovar Zenith is a gated community of luxury apartments located at Nallagandla, in close proximity to the IT hub/ financial district at Gachibowli. The gated community boasts tranquil open spaces, eco-friendly design and is one of the largest green rated residential projects in the states of Telangana and Andhra Pradesh. Building on the success of Aparna Sarovar and Aparna Sarovar Grandé, the project is designed to combine luxurious living and environmentally responsible design, both without compromise. Continuing Aparna’s adherence to international eco-friendly standards, the project has a Pre-Certified Gold Rating by IGBC.

At 24+ acres with 13 towers and 2475 apartments, Aparna Sarovar Zenith is one of Telangana’s and Andhra Pradesh’s largest residential projects – of which 18 acres is open spaces. The exclusive gated community ensures total privacy set amidst impeccably landscaped gardens and central courtyard. Furthermore, Aparna Sarovar Zenith is surrounded by 2300 acres of HCU land that will remain intact forever and will always provide a view of lush greenery.

Aparna Sarovar Zenith offers a host of the finest amenities including club house, gym, swimming pool, snooker, facilities for indoor and outdoor games, and children’s play area. In addition to essential services including surface car parking, the exclusive gated community also boasts eco-friendly initiative including rainwater harvesting and water softener plant. Aparna Sarovar Zenith maintains a 24-hour power back-up, security and surveillance network and water supply. All measures taken in the project design highlight its eco-friendliness and relatively low carbon footprint.

Aparna Serene Park

Scheduled to be completed in August 2019, Aparna Serene Park is an ultra-luxury gated apartment community located near the premier location of HITEC City at Kondapur. In close proximity to the IT and financial hubs, yet surrounded by the serenity of the Botanical Gardens, Aparna Serene Park truly offers the best of both worlds. The project boasts the finest quality construction, top of the line fittings and unparalleled amenities including a uniquely-designed club house.